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What is the difference between error of omissions and commission explain with an example

Answer»
BASIS FOR COMPARISONERROR OF OMISSIONERROR OF COMMISSION
MeaningThe error of omission is when a transaction is not recorded in the account books, in whole or in part.The error of commission is when there is an incorrect recording of transactions in the account books.
Reason of occurrenceMistakeCarelessness, negligence or lack of knowledge
RectificationSimply correct the entry made.Debit/Credit the wrong account and post it to the correct account.
Agreement of trial balanceAgrees in case of complete omission and Disagrees in case of partial omission.May or may not agree


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